By Gloria Methri

iwoca has announced its partnership with business account provider Countingup to offer swift loans and improved access to finance to SMEs in Europe.

Building on Countingup’s suite of finance, accounting and tax management features, this collaboration uses iwoca’s API to embed fast and flexible funding options into Countingup’s business account platform. This now means users can access finance seamlessly within minutes.

The integration will see iwoca’s Flexi-Loan for SMEs made available on the app and use Countingup’s data and interface to streamline the loan application process.

Initial data collected during a trial of the partnership found that 70% of Countingup’s first cohort of customers applying for finance with iwoca received a loan decision in under an hour.

Harry Cranfield, iwoca Partner Channel Manager said, “Through our industry-leading API integrations for business lending, we’ve enabled over 30 partners to provide finance within their platforms. As we continue to innovate, we are actively looking for new partners to expand our reach and make finance available to small businesses when and where they need it.

“Our latest collaboration with Countingup brings us another step closer to that reality. Access to fast and flexible finance not only enhances cash flow management for SMEs but also fuels their ability to seize opportunities – making their business and the economy stronger.”

Rory Bocock, Head of Marketing at Countingup said, “Our collaboration with iwoca represents a big step forward in our mission to automate and simplify finances for the UK’s self-employed. The seamless integration of iwoca’s flexible business loans within our app complements our finance, accounting, and tax features – empowering self-employed individuals to confidently run their businesses. We are ensuring small business owners have continuous access to the vital financial resources they need to thrive.”